November is Long-Term Care Insurance (LTCI) Awareness Month, and it’s the perfect time to start conversations that too many clients put off until it’s too late.
The statistics are clear: ● Nearly 70% of Americans age 65 or older will need some type of long-term care in their lifetime.
● The average annual cost of care in the U.S. now exceeds $100,000 for a private room in a nursing home and $60,000 for home health care.
● Women, on average, need care for 3.7 years, while men need care for 2.2 years—meaning even a “short” care event can quickly drain savings.
Without proper planning, the cost of care can devastate a retirement portfolio, forcing clients to liquidate assets meant for income, travel, or legacy goals. Even those with substantial savings can find themselves spending through assets faster than expected when care is needed.
That’s why proactive LTC planning is essential. Modern solutions now include: ● Traditional LTC insurance for those seeking tax deductions or lower out of pocket premiums.
● Hybrid Life/LTC plans that combine protection with flexibility—if care isn’t needed, benefits are paid as life insurance or returned as cash value.
At MERIT Insurance Services, we are recognized as one of the nation’s leading experts in long-term care planning. Our team helps agents/advisors navigate carrier options, illustrate coverage scenarios, and integrate LTC planning into holistic retirement strategies.
Start the LTC conversation this November—before a health event starts it for them.
📞 Contact MERIT today to discuss customized long-term care solutions for your clients. |
